Need coder for RN-CZ Breakout method | Forex Factory

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Need coder for RN-CZ Breakout method

  • #1
  • First Post: Mar 29, 2013 9:38am Mar 29, 2013 9:38am
Ok, so I have this idea. In fact, I have a programer from tradestation working on automating the strategy for me right now. I's excited about this one because in my mind it makes a lot of sense. It plays off some other strategies on this site that have proven themselves over time. Mainly forexhard's stairstep breakout strategy.

So this is it: (and this may not be real original)

So what we want to do is trade only around ROUND NUMBERS (1.30, 1.31, 1.32 etc). We then wait for consolidation within a range of the round number. For example once price crosses 1.30 it starts looking for X number of bars within the zone (Im thinking the zone will be .015-.085, so 1.3015 - 1.2985 for the example).

So if we are using a 5 min chart we wait for a cross of a round number, then wait for X number of bars to trade within the zone .0015-.0085 (So it would be a 30 pip breakout box that forms 15 pips above and below the round numbers.)

We then take all breakouts of the box with a target of .0050. Risk to reward make sense (risking 30 pips to make 35 pips).

I'm thinking 12 closes within the +-.15 round number zone using a 5 min chart make sense (1H).

I would like it to martingale also. The idea is that with the consolidation it will soon breakout to reach a target. Hopefully the number of losses back to back are manageable.

We can call the +-.15 of the round number the "round number kill zone". The only way it starts to countdown the "closes within the round number kill zone" is after a prior target was hit and a new round number has been crossed.

I'm hoping forexhard or some others from that thread can code some stuff up. Its much like what they are doing over there but with some added price rules. A time of day filter might be needed also but I'm not sure.

Let see if this has legs..... If it doest I'll share the tradestation code with anyone willing to help with metatrader code for EA's and indicators.

GAME ON!
  • #2
  • Mar 29, 2013 10:56am Mar 29, 2013 10:56am
Have you try this system ? I ever heard round number trading system, but I didn't understand about the method. The sound of your trading strategy is more like a gambling than like an analysis.


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best macd indicators
  • #3
  • Mar 29, 2013 12:36pm Mar 29, 2013 12:36pm
Have I tried it? NOPE... But will soon. Gambling? Maybe... Playing the probability? YEP!

In my many years of trading I know a few things for sure.
#1 - This is a tough business and MOST traders fail and MOST traders use the same indicators all the others before them used and failed.
#2 - Prices in currency pairs tend to go between physiological levels of supply and demand and ROUND NUMBERS. Many traders use these areas as stops and or entries.
# 3 - Periods of low volatility/little price movement are followed by periods of expanded moves.

So, that's the idea behind this strategy. I know the martingale style has many downsides but a strategy like the one described WILL make money. The question is, how much money does one need to trade this style and not go through devastating drawdowns. Maybe 100k, maybe 1 mil. Not sure but once I figure that out I will then be able to engineer filters to handle the drawdowns.

Such as, X number of bar closes inside the round number kill zone. (This is the same method used in forexhard's thread that trades all consolidation zones. As you'll see, that strategy is a proven money maker. I assume using that same type of method at round numbers will work well. We shall see). Other filters could be Max number of trades per zone. Reset martingale after X number of trades. Etc. Again, its based on some solid logic, now Im hoping I can find someone to code up some indicators and EA's. There are some amazing programmers around this site. I think this one could be a winner so let see.
  • #4
  • Mar 29, 2013 1:01pm Mar 29, 2013 1:01pm
Quoting tmoney5474
Have I tried it? NOPE... But will soon. Gambling? Maybe... Playing the probability? YEP!

In my many years of trading I know a few things for sure.
#1 - This is a tough business and MOST traders fail and MOST traders use the same indicators all the others before them used and failed.
#2 - Prices in currency pairs tend to go between physiological levels of supply and demand and ROUND NUMBERS. Many traders use these areas as stops and or entries.
# 3 - Periods of low volatility/little price movement are followed by periods of expanded...
In my many many many yrs of trading I can 100% assure you you are gambling as soon as you put Martingale into the equation.
Will this work. 100% NOT.

Your statement most traders Fail using the same indicators is completely and utterly false. Many people use the same "tools" some have success and some fail.. You can look at any profession and or lets say sport to qualify my statement.

I suggest you learn how to Trade my friend.
If Forex hards system was so damn good. He would not be here.
Same goes for guys like NanningBob. He is about as far from a succesful trader as you can get.

This business is ripe with liars, cheats and charlatans. This site has its fair share and they do get weeded out with time ALWAYS.
You best be very careful who you listen too. Trading is not a game.. You dont fuck around with Martingale shit if you are at all serious and have a clue about these markets.

Not trying too pick on you but im telling you straight. Learn how to trade. Simpler is better.. Forget the word Martingale even exists.

I do wish you good luck.
Master your Mind,,,Master the Market
  • #5
  • Mar 29, 2013 1:08pm Mar 29, 2013 1:08pm
bluesteele, its funny because I KNOW HOW TO TRADE. In fact, I'd put myself up against almost ANYONE out there. Wont go into my pedigree but trust me..... Anyway, this is just an idea and EVERYTHING the strategy is based on makes 100% logical sense and WILL and I repeat, WILL make money. Again, the question is, HOW BIG OF AN ACCOUNT DOES ONE NEED? Thats my only goal in this. Nothing else. I would never think about trading this style without understanding many other things first. Your not dealing with a rookie right now.

What works in trading? Trend analysis, price action and physiological levels i.e. supply and demand..... THATS ITS. I get that. But, I still like to test interesting concepts.
  • #6
  • Mar 29, 2013 5:33pm Mar 29, 2013 5:33pm
Quoting tmoney5474
bluesteele, its funny because I KNOW HOW TO TRADE. In fact, I'd put myself up against almost ANYONE out there. Wont go into my pedigree but trust me..... Anyway, this is just an idea and EVERYTHING the strategy is based on makes 100% logical sense and WILL and I repeat, WILL make money. Again, the question is, HOW BIG OF AN ACCOUNT DOES ONE NEED? Thats my only goal in this. Nothing else. I would never think about trading this style without understanding many other things first. Your not dealing with a rookie right now.

What works in trading?...

do not be concerned with people that attack you like that. keep it up tmoney! i will try looking into the strategy and see how it works via visual backtest.
  • #7
  • Mar 29, 2013 5:55pm Mar 29, 2013 5:55pm
Hello guys,

First reply on FF.
This should not be about who has the bigger balls here. And who has made the most money. I am all for outside the box thinking. So let just see what Money has to say here.

The <<round numbers >> has been around for a while, but I am not sure how it can be profitable.

Good trading,

Insider
  • #8
  • Mar 29, 2013 8:12pm Mar 29, 2013 8:12pm
Quoting tmoney5474
I know the martingale style has many downsides ...
Not "many" ... but ONLY downsides. The final result with any martingale is a loss.
MT4/MT5 EAs/Indicators/Alerts coder
  • #9
  • Mar 29, 2013 8:19pm Mar 29, 2013 8:19pm
FerruFx, that simply not true. There are those that have deep enough pockets to trade a system like this. Again, the only point is to see just how deep those pockets need to be.

The strategy itself has logic and now its time to see how deep we need to go....
  • #10
  • Mar 29, 2013 8:25pm Mar 29, 2013 8:25pm
Quoting tmoney5474
FerruFx, that simply not true. There are those that have deep enough pockets to trade a system like this. Again, the only point is to see just how deep those pockets need to be.
Only an infinite account balance will make a martingale to be successfull ... because in any method/system you are not controling the losing streak ... and a long one will occur soon or later to ruin your account.
MT4/MT5 EAs/Indicators/Alerts coder
  • #11
  • Mar 29, 2013 8:40pm Mar 29, 2013 8:40pm
there is only a finite amount of time that pairs such as the eurusd will stay between .0015-.0050 or .0050-.0085. With that said, you are 100% right that this will take a HUGE account as a base strategy. That's where filters, trade resets, direction filters etc come in. Not sure what needs to be added until I see the strategy results. (max loss, time in trade, time between trade, bars in zone, etc).

I agree with a lot of what you are saying but I'm also one not to discount any idea in this business because you never know. I've seen my fair share of junk and this may be that also, but maybe not. By the way, I am a REAL, FULL TIME, PROFITABLE, INFLUENTIAL trader. In other words, the real deal. Not to say other aren't because I'm sure there are some great traders on this site. This type of strategy is not the strategy I use to make money. But it is interesting enough for me and hopefully some other to give it some thought rather then bash it.

Just a thought....
  • #12
  • Mar 29, 2013 9:05pm Mar 29, 2013 9:05pm
Since the OP brought my name into this discussion in his 1st post, I just want to say that I do not endorse this method as described up to this point, including his aggressive Mart strategy. He did not learn this from me or from the SSBO system thread in general. I have no idea why I was brought into this.
To improve is to change. To perfect, is to change often.
  • #13
  • Mar 29, 2013 9:17pm Mar 29, 2013 9:17pm
Wow people are funny... The reason I mentioned your name is out of respect for what you've done. That't it. It has similarities to your SSBO strategy simple because it has a similar breakout method and I THINK having a filter of X number of closes in the zone will make it more profitable. But I'm not sure.

PEOPLE..... This is the start of an idea... Nothing else. Not trying to take anyones glory. Just trying to get someone interested enough to code up an indicator. Much like the SSBO indicator. (only because it has a breakout method like the SSBO).

Some of you people are funny as they come.
  • #14
  • Mar 29, 2013 9:24pm Mar 29, 2013 9:24pm
I'd love to have an all out 10k buy-in 6 month trading contest with all you amazing traders that love to chime in and show everyone how good you are.

Anyone up for the challenge?

Any asset class. (By the way, my specialty is options)

Rules will be 10k buy-in. 10k starting account balance. Highest rate of return wins. REAL MONEY... There are a lot of Demo trading gods on this site. I'd love to do this!
  • #15
  • Mar 29, 2013 9:38pm Mar 29, 2013 9:38pm
Quoting tmoney5474
I'd love to have an all out 10k buy-in 6 month trading contest with all you amazing traders that love to chime in and show everyone how good you are.

Anyone up for the challenge?

Any asset class. (By the way, my specialty is options)

Rules will be 10k buy-in. 10k starting account balance. Highest rate of return wins. REAL MONEY... There are a lot of Demo trading gods on this site. I'd love to do this!
if you're seriously that good why do you need to have a pissing contest with people you don't know?
  • #16
  • Mar 29, 2013 9:47pm Mar 29, 2013 9:47pm
I didn't start the pissing contest. All I did was post an idea and got a bunch of negative crap. That's what started the pissing contest. This questions been asked before but why is it that there are always those that bash. Read every thread and at least one person is on there bashing. I don't get it. Anyway, this started as an IDEA. That's it. And again, all I'm looking for is a programmer. That's one thing I am not and I'm hoping I can find one that's willing to code some stuff up.
  • #17
  • Mar 29, 2013 10:26pm Mar 29, 2013 10:26pm
Quoting tmoney5474
... all you amazing traders that love to chime in and show everyone how good you are.
Who is doing such thing here ? Only you by requesting a contest in order to show that you are better than others.

I was only giving advise or warning about your martingale. That's all.

Even Forexhard was just pointing out that he doesn't want to endorse your method. Nothing else.

I can't see a single post in your thread which is shitting you in any maner ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #18
  • Mar 30, 2013 7:34am Mar 30, 2013 7:34am
Ferrufx, reread the thread. I didn't ask for advice. I don't need advice. I need a programmer. I think that's real clear from post #1. Then bluedsreele comes on and says "learn to trade " really?????? Then comes you saying the finale result will only be a loss. Again, I don't need advice. That's not the point of this. I need a programmer. Someone always needs to post some advice showing how smart they are even if no one asked for that advice. Again I DONT NEED ADVICE,,, I NEED A PROGRAMMER..........
  • #19
  • Mar 30, 2013 7:43am Mar 30, 2013 7:43am
Quoting tmoney5474
Ferrufx, reread the thread. I didn't ask for advice. I don't need advice. I need a programmer. I think that's real clear from post #1. Then bluedsreele comes on and says "learn to trade " really?????? Then comes you saying the finale result will only be a loss. Again, I don't need advice. That's not the point of this. I need a programmer. Someone always needs to post some advice showing how smart they are even if no one asked for that advice. Again I DONT NEED ADVICE,,, I NEED A PROGRAMMER..........
That's what the Platform Tech forum is for.

http://www.forexfactory.com/forumdisplay.php?f=69
  • #20
  • Mar 30, 2013 7:53am Mar 30, 2013 7:53am
The original post was about a "Trading System". The thought was this could turn into a discussion and some good programmers would help create some tools. I thought I posted it in the right place to start but maybe not. Your probably right billbss.
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